Panel Slams Connecticut, Malloy For New Tax Increases

Posted By
Alyssa Canobbio
On
June 5, 2015 @ 7:50 am
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Politics |
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MSNBC’s Morning Joe panel slammed Connecticut and its Democratic Gov. Dannel Malloy on Friday for a new tax increase that hurts businesses in the state.

Host Joe Scarborough called it "insane."

"You cannot fundamentally, arithmetically, have a situation where you’re forcing businesses to leave. You’re going to go out of business as a state and as a governor you won’t get reelected," contributor Donny Deutsch said.

GE has historic roots in Connecticut but CEO Jeff Immelt emailed employees saying that the company was looking to move to a state that had a more pro-business environment.

The state legislature approved a $40 billion budget Wednesday, which raised taxes by $2 billion over two years.

Connecticut has been continually ranked last in job creation and growth since 2008, and is currently ranked as the nation’s third-highest state and local tax burden. It is also one of only a few states currently dwindling in population.